Ivanhoe Energy's HTL technology partner, Ensyn, completes alliance

Document Sample
Ivanhoe Energy's HTL technology partner, Ensyn, completes alliance Powered By Docstoc
					                                                                                 March 26, 2009

       Ivanhoe Energy’s HTL technology partner, Ensyn,
  completes alliance for second-generation biomass technology
            with a world leader in refining processes

CALGARY, CANADA — Robert Friedland, Executive Chairman, President and Chief Executive
Officer, and Dr. Mike Silverman, Executive Vice President, Technology, of Ivanhoe Energy Inc.
(TSX: IE; NASDAQ: IVAN), today congratulated Ivanhoe’s technology partner, Ensyn Corp., on
its formation of a biomass technology joint venture, Envergent Technologies LLC, with UOP,
a Honeywell company.

Envergent Technologies will offer Ensyn’s commercially proven Rapid Thermal Processing
(RTP™) technology to convert second-generation biomass, such as forest and agricultural
residuals, to pyrolysis oil for use in power and heating applications.

The joint venture also will accelerate research and development efforts to commercialize next-
generation technology to upgrade the pyrolysis oil into transportation fuels, such as green
gasoline, green diesel and green jet fuel.

Ensyn’s RTP technology was proven and commercialized in the 1980s in the biomass sector
and adapted in the late 1990s for heavy-oil upgrading. The rights to the RTP technology for all
applications, except renewable resources, were acquired by Ivanhoe Energy in April 2005 and
rebranded HTL™ for heavy-oil upgrading applications. Ensyn retained the rights to the RTP
technology for the processing of renewable resources.

All improvements to the core RTP technology that are owned by Ensyn flow through to
Ivanhoe Energy for HTL heavy-oil applications, on a cost-free basis.

 “This alliance is a clear endorsement of the core RTP process of short reaction time thermal
cracking for challenging feedstocks,” said Dr. Silverman. “UOP is a global leader in refinery
technologies. We welcome their recognition of the unique capabilities and strength of the RTP
process, and we wish UOP and Ensyn well in their new venture.”

UOP, of Des Plaines, Illinois, a recognized leader in refining process technology for nearly 100
years, is developing efficient ways for fuel producers to convert biofeedstocks into valuable
fuels and chemicals.

The agreement between Ensyn and UOP does not affect Ivanhoe Energy’s exclusive rights to
apply the RTP technology in the petroleum sector.

For further information, please refer to the Honeywell announcement, which is available on the
Honeywell website at www51.honeywell.com/honeywell

Ensyn Corporation
Ensyn Corporation is a private company focused on the production of fuels and natural
chemicals from renewable resources. Ensyn operates seven commercial biomass processing
plants in the US and Canada, producing numerous natural chemicals and energy products.

Ivanhoe Energy
Ivanhoe Energy is an independent, international, heavy-oil development and production
company focused on pursuing long-term growth in its reserves and production using advanced
technologies, including its proprietary, patented heavy-oil upgrading process. Core operations
are in Canada, Ecuador, the United States and China, with business development
opportunities worldwide. Ivanhoe Energy's shares trade on the NASDAQ Capital Market with
the ticker symbol IVAN and on the Toronto Stock Exchange with the symbol IE.

Contact Details:

Investors Contact:              Ian Barnett 1-647-203 6588
                                Bill Trenaman 1-604-688-8323
Media Contact:                  Bob Williamson 1-604-688-8323

Website:                        www.ivanhoeenergy.com

FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements, including forward-
looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include, but are not limited to, the anticipated production capacity of proposed HTL plants. When
used in this document, the words such as "could", "plan", "estimate", "anticipate", "intend", "may", "potential",
"should", and similar expressions relating to matters that are not historical facts are forward-looking statements.
Although Ivanhoe Energy believes that its expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will
be consistent with these forward-looking statements. Important factors that could cause actual results to differ
from these forward-looking statements include the possibility that the company will be unable to raise financing in
the future for any of its projects or to repay acquisition financing interest or principal, the potential that the
company's projects will experience technological and mechanical problems, new product development will not
proceed as planned, the HTL technology to upgrade bitumen and heavy oil may not be commercially viable,
market acceptance of the HTL technology may not be as anticipated, the UOP-Ensyn joint venture may not
generate any improvements to the HTL technology, Ivanhoe Energy's lack of history in developing commercial
HTL opportunities, geological conditions in reservoirs may not result in commercial levels of oil and gas
production, the availability of drilling rigs and other support services, uncertainties about the estimates of the
reserves, the risk associated with doing business in foreign countries, environmental risks, changes in product
prices, our availability to generate cash flow and raise capital as and when required, competition and other risks
disclosed in Ivanhoe Energy's Annual Report on Form 10-K filed with the U.S. Securities and Exchange
Commission on EDGAR and the Canadian Securities Commissions on SEDAR.

Description: pyrolysis-oil-upgrading pdf